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18915 MD Janes 84r CITY OF LA QUINTA THIS AGREEMENr, made and entered into this. 15th day of .October 11984 by and between M.D. Janes Company, Inc. , hereinafter referred to as "SUBDIVIDER", and CITY OF LA Q U I N TA ,'1a municipal corporation of the State of California, herein- after referred to as CITY . WITNESSETH: �, the Subdivider has prepared and filed a final subdivision map of Tract • 18915 in the C i ty 0 f L a Q u i n t a, County of Riverside, for appro- val by City; and WHEREAS, as a condition precedent to the approval of said map by City, Subdivi- der is required to offer for dedication those parcels of land intended for streets, highways and other public use, and also to construct and install or agree to constrict and install certain improvements on said dedicated parcels; and WfS, Subdivider, by said map, has offered for dedication to City for public use certain streets and easements shown on said map; and WRZREAS, City desires to'.accept the streets and easements shown on said map for public use, and certain other such improvements; and WHEREAS, as a condition precedent to the acceptance of the dedication of such streets and easements by City; Subdivider is required to enter into an agreement with the City to construct certain improvements; and W MtAS, the total cost of such improvements has been estimated by the city Engineer to be approximately $233,877.00 Dollars; and WHEREAS, Subdivider by said map has proposed to utilize certain parcels of land for private streets, and also to construct and install or agree to construct and in- stall certain improvements; and WHEP.A.S, Subdivider by said map has not offered for dedication to the City for public use the aforementioned private streets; and WWREAS, even though said private streets shall not be dedicated to City for Public use, City desires to insure that said streets are constructed to the same standards and specifications required by City for public streets; and WHEREAS, the total cost of such improvements has been estimated by the City Engineer to be approximately 143701950nn Dollars; NC1W T MREMRE, IT IS AG UM by and between the parties hereto as follows: 1. Subdivider, at his sole cost and expense, shall construct and install the street, drainage, domestic water, sanitary sewer and other improvements required to be constructed or agreed to be constructed as a condition precedent to the approval of said final map and acceptance of such streets and easements, as shown on the "Imr- provemP..nt Plans for Tract No. 18915 a copy of which is now on file in the office of the City Engineer of the City and which is referred to and incorporated herein as though set forth in full. 2. Subdivider shall furnish to City a security satisfactory in form and substance to City Attorney executed by a corporation authorized to transact surety business in the State of California on forms approved by the City, one security to be in the sum of$1,816,909.00 Dollars to assure the faithful performance of this Agree- ment, and one security to be in the sum of NSA Dollars to assure t of the cost of the labor -and materials for the �� constructed improvements r ructed or installed hereby. ted 3. Before final approval of the street improvements, the Subdivider will place survey monuments in accordance with the provisions of the State Subdivision Map Act and the Subdivision Ordinance of the City of Rancho Mirage as shown on the Tract Map. The Subdivider, after setting the morru-ents, shall furnish the City Engineer of the C i t y o f L a Q u i n t a ., written notice of the setting of said monuments and written Proof: of having paid the engineer or surveyor for the setting of said monuments, or as pro•,- I a for in the Subdivision Neap Act. I Subdi.-rision Improvement Agreement Page 2 4. In accordance with the terms of said subdivision regulation aforesaid, the Subdivider does hereby agree to furnish a security satisfactory in form and substance to the City Attorney in the amount of $ T000 on _ Dollars to guarantee payment of the cost of setting monuments as stated in Item No. 3 of this agreement. 5. The City Engineer or his duly.authorized representative, upon written request of Subdivider, shall inspect the improvements herein agreed to be con- structed and installed by Subdivider, and if determined to be in accordance with the applicable City standards, shall recommend the acceptance of such improvements _ by the City. 6. Subdivider shall complete such improvement plans including any corrections and revisions thereto necessary to coamply with the applicable City standards as Bete nursed by the City Engineer, within thirty (30) days after approval of the final map. 7. Subdivider shall guarantee such improvements for a period of one year following the ccrupletion by Subdivider, and acceptance by City, against any defective work or labor done, or defective materials furnished, in the performance of this Subdivision Improvement Agreement by Subdivider and shall repair or replace any such defective work or materials discovered during said one year period. 8. Subdivider shall commence the construction and installation of such improvements within ninety (90) days from the approval of such Improvement Plans for Tract No. 18915 by the City Engineer, and shall complete such construction and installations within eighteen (18) months from such date of ccnriencement, 9. The labor and material security required herein at Item No. 2 shall be retained to secure payment to the Contractor, his subcontractors, and to persons renting equipment or furnishing labor or materials for six (6) months after com- pletion and acceptance of the work provided at Item No. 1 herein by the City. 10. Fifteen percent (15%) of the performance security required by Item No. 2 herein shall be retained by the City for one (1) year to support the guarantee of the improvements by the Subdivider as required by Item No. 7 herein. 11. Subdivider also agrees, at his sole cost and expense, to construct and install.to the standards and specifications required by the City, the Private Streets as shown on the aforementioned "Improvement Plans" for Tract No. 1891.5 - 12. Subdivider shall furnish to City a security satisfactory in form and substance to the City Attorney executed by a corporation authorized to transact surety business in the State of California on forms approved by the City, one security to be in the sum of Dollars to assure the faithful performance of this Agreement with respect to said Private to Streets, and one �of security to be in the sum of $ N/A Dollarspayment the cost of labor and materials for the Private -Streets required to be constructed hereby. 13. The City Engineer or his duly authorized representative, upon written request of Subdivider, shall inspect the Private Streets herein agreed to be constructed by Subdivider, and determine if said Private Streets have been con- structed in compliance with the standards and specifications required by City for public. streets. 14. Subdivider shall guarantee said Private Streets for a period of one year following the completion by Subdivider, and approval by City Entineer, against any defective work or labor done, or defective materials furnished, in the performance of this Subdivision Improvement Agreement by Subdivider and shall repair or replace any such defective work or materials discovered during said one year period. 15. Subdivider shall conmence the construction and installation of said Plans" Private Streets within ninety (90) days frcen the approval such u h "Im rovemech struction for Tract No. 18915 by the City Engineer, andall complete and installations within eighteen (18) months fran such date of commencement; pro- vided, however, that Subdivider shall have the option at its sole discretion to extend the completion period described herein past the eighteen (18) months time Su.3division Improverrent Agreement Page 2 period to any future date said Subdivider may select. It is understood, however, that as a condition precedent to extending the aforementioned completion period, Subdivider shall furnish to City the securities described in Item No. 12 herein covering any extended completion period selected by Subdivider pursuant to this paragraph. The amount of said securities to be furnished to City pursuant to this paragraph shall be sufficient to insure the performance of additional work to ccmplete, after taking into account work already performed, the aforementioned Private Streets. Said -- securities amount to insure completion shall be determined by City's engineer. 16. The labor and material security required herein at Item No.-12 shall be retained to secure payment to the contractor, his subcontractors, and to persons renting equipment or furnishing labor or materials for six (6) months after conpletion and approval of the work provided at Item No. 11 herein by the City Engineer. 17. Fifteen percent (15%) of the performance security required by Item No. 12 herein shall be retained by the City for one (1) year to support the guarantee of the improvements by the Subdivider as required by Item No. 15 herein. 18. In the event that Subdivides fails to perform any obligation hereunder, S,.: Nrider authorizes City to perform such obligation sixty (60) days after mailing --;:.— c.en Notice of Default to Subdivider at the address given below, and agrees to pay the entire cost of such performance by City. 19. In the event that Subdivider fails to perform any obligation hereunder, Subdivider agrees to pay all costs and expenses incurred by City in securing per- formance of such obligations, including costs of suit and reasonable attorney's fees. In the event that Subdivider is unable to perform within the time limits_ herein due to causes beyond his control, such as strikes, acts of Cod, etc., all tine limits will be extended by the same amount of time as caused by such delay. 20. Subdivider hereby binds itself, its executors, administrators and assigns, and agrees to indemnify, defend and hold the City harmless fram any losses, claims, demands, actions or causes of action of any nature whatsoever, arising out of or in any way connected with the improvements agreed to be constructed and installed hereunder by the Subdivider, including costs of suit and reasonable attorney's fees. IN WITNESS W MEOF, the parties hereto have executed this Agreement as of the day and year first above written. CITY OF LA QUINTA By: AT EST: By: . City Clerk, SUBDIVIDES : M. Company, Inc. Xis-haXic-haff D. Janes, P sident By: ILA --- JoijgP/1A1vareN,, Secretary REVIEWED AND APPROVED Date City Engineer_